PIP, a provider of Web3 payment solutions, has announced the launch of its services in the BNB Chain ecosystem. The platform will enable BNB Chain users to maximize the potential of BNB (BNB) and the Binance USD (BUSD) stablecoin.
PIP’s integration into the BNB Chain ecosystem is a strategic, win-win move for both sides. For PIP, it will allow the platform to tap into the growing number of users that are using BNB Chain. In turn, this will enable PIP to expand its reach and coverage. For BNB Chain, taking the BUSD and BNB tokens to the mainstream will further boost its use cases beyond token pairing.
The platform’s PIP Extension product will provide the advanced service that connects the Web3 ecosystem with a range of connected Web2 social media platforms.
PIP makes crypto payments easier
With PIP, payment is made more convenient as users don’t need to use alphanumeric and case-sensitive wallet addresses, which aren’t human-readable. The PIP tag, a unique method of identifying addresses, simplifies the whole method of sending and receiving payments, no matter how large or small.
PIP uses a consumer-centric user interface, and this allows social media accounts to easily receive tips and send payments. Users can also seamlessly transact or reward their favorite social media for putting out content, without divulging a lot of information on their bank details or cryptocurrency wallets.
Businesses are not excluded. They can share their PIP tags on their websites or their social media pages and get paid seamlessly, compared to legacy payment services.
PIP is not an untested service. Over 60,000 users have already been onboarded via mainstream social media platforms like Twitter, Twitch, Reddit, and Discord and $15 million worth of crypto payments have been processed by the platform. Users can connect PIP to their social media accounts and unlock donations, tips, and payments. It is also possible to participate without a PIP account, but only through an escrow service.
PIP’s CEO and Co-Founder, Jeff Baek responded to the BNB and BUSD integration by saying:
“We believe that PIP will help $17 billion BUSD to expand beyond a trading pair to become a means of global payment, flouring micropayment economy.”
In the future, PIP.ME and PIP Button will also support BNB and BUSD coins. PIP.ME is a Web3 profile link that may be customized and distributed in order to exchange content, show or sell user-owned NFTs, and take payments.
PIP has started making additional plans to expand its array of consumer-focused Web3 services since securing seed round funding from Alameda Research, Coinbase Ventures, CMS Holdings, Galaxy Digital Hong Kong, and Genesis Block Ventures. Additionally, as part of its goal for the upcoming quarters, PIP plans to include support for additional blockchains, currencies, and social media sites.